Shiba

Arbitrum

when

Polygon

Shiba Inu

<p>The cryptocurrencies Arbitrum (ARB) and Polygon (MATIC) have both surged around 4% over the last 24 hours, reigniting bullish momentum. However, our analyses caution that certain metrics suggest traders should exercise patience before going all-in on these rallies.</p>
<p><strong>Polygon’s Potential Rebound<br></strong>The blockchain scaling solution Polygon has started to recover after a healthy correction over the past week, according to the X account <a href="https://twitter.com/WorldOfCharts1/status/1770551414105719143?t=DE8lRUZ_nmO-5Qp1pl3ACw&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">“World Of Charts.”</a></p>
<p>Our analysis shows MATIC bottomed around $0.90 after retracing from highs above $1.20 following a bullish run from late January.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="464" src="https://captainaltcoin.com/wp-content/uploads/2024/03/image-932-1024x464.png" alt="" class="wp-image-456935" srcset="https://captainaltcoin.com/wp-content/uploads/2024/03/image-932-1024x464.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-932-300x136.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-932-768x348.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-932-1536x696.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-932-2048x929.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-932-331x150.png 331w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-932-100x45.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-932-772x350.png 772w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-932-788x357.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-932.png 1824w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>With MATIC’s price closing bullishly yesterday up around 10%, “World Of Charts” sees this as an opportunity to “buy the dip” in anticipation of the token retaking its former highs over $1.20. However, we can see that the relative strength index (RSI) is still in “sell” territory around 45, and the 50-day simple moving average (SMA) is currently acting as resistance that needs to be cleared.</p>
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    <p>The key? Getting in early, especially during the <strong>ICO phase</strong>. Check out <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"><strong>NuggetRush</strong></a> today! This new memecoin combines play-to-earn gaming with authentic gold mining ventures. <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"><strong>Seize the opportunity</strong></a> with ongoing presale prices! Plus, prepare for $NUGX’s upcoming launch on major exchanges.</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
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<p>The account <a href="https://twitter.com/CryptoNikyous/status/1770775665182121997" target="_blank" rel="noopener noreferrer nofollow">“Nikyous</a>” highlighted how patient investors need to be, recounting, “I remember selling $MATIC right before it started pumping in 2021…it did 100x in 3 months, from 100m to 10b mc after that. Buying back higher is ok too but I know is hard AF.” This underscores both the potential for life-changing gains but also the intestinal fortitude required when investing in cryptocurrencies.</p>
<p><strong>Arbitrum’s Bullish Technical Break<br></strong>Meanwhile, layer-2 scaling solution Arbitrum’s token ARB is also flashing some bullish signals after a recent consolidation period. <a href="https://twitter.com/WorldOfCharts1/status/1770551414105719143?t=DE8lRUZ_nmO-5Qp1pl3ACw&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">“World Of Charts” </a>stated “$Arb Finally #Arb Has Already Started As Expected,” pointing to a hammer candlestick three days ago followed by a long green candle breaking above a key resistance level.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="464" src="https://captainaltcoin.com/wp-content/uploads/2024/03/image-933-1024x464.png" alt="" class="wp-image-456943" srcset="https://captainaltcoin.com/wp-content/uploads/2024/03/image-933-1024x464.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-933-300x136.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-933-768x348.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-933-1536x696.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-933-2048x929.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-933-331x150.png 331w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-933-100x45.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-933-772x350.png 772w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-933-788x357.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-933.png 1824w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Further analysis shows that although ARB has continued its upward trajectory today, its price is yet to push through the 50 and 100-day SMAs which are currently acting as resistance overhead. Additionally, ARB’s RSI is at a low level around 40, suggesting plenty of potential runway before becoming overbought should the uptrend persist.</p>
<p>Both MATIC and ARB appear to be in the early stages of potential recovery rallies after weeks of choppy price action. While the bullish momentum is reemerging, further analyses urge caution as critical technical hurdles remain that could challenge the sustainability of these upswings. As “Nikyous” highlighted, patience is key when investing in the highly volatile cryptocurrency markets.</p>
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<p>The post <a href="https://captainaltcoin.com/arbitrum-arb-bulls-retake-control-while-polygon-matic-offers-another-buy-the-dip-opportunity-but-metrics-signal-caution/" rel="noopener noreferrer nofollow">Arbitrum (ARB) Bulls Retake Control While Polygon (MATIC) Offers Another Buy-the-Dip Opportunity, But Metrics Signal Caution</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Arbitrum (ARB) Bulls Retake Control While Polygon (MATIC) Offers Another Buy-the-Dip Opportunity, But Metrics Signal Caution

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